Selling a home is not always easy and can sometimes be a complicated process, especially if you’re renovating the place before listing. Renovating your house, even just a little, before selling is typically a good idea because it can help you increase the return value of your home. This means when you go to sell you’ll be able to ask more for the house because you put work into making it nicer.
The most common renovations for improving return value are garage door renovations and window and door replacements. This is because curb appeal has a huge impact on return value. But what other ways can we increase the value of our home? Read on to find out.
Help Yourself Sell
As mentioned, selling a house is not as easy as you might think. For example, in the DC Metro market, 50% of homes didn’t sell the first time they were listed. This could be for a number of reasons, however, one way that you can help your home sell is by investing in renovations. The renovations you partake in don’t necessarily need to be extensive, but you should make sure you’re aware of which renovations will provide you with the most return value.
First, you’ll want to decide how much money you’re willing to invest in your home and where. In 2018, most homeowners spent between $5,000 and $10,000 on improving their homes. If you’re interested in spending more, it’s likely that you’ll get more back from it.
However, it all depends on where you spend your money that matters. If you invest in things like overly stylized decor or high-end appliances, these things are less likely to provide you with a substantial return value, if any at all. After all, potential buyers might have a different style than you. Therefore, it’s important to plan out just how much you want to invest and where so that you get the most for your money. Not only that, but it will also make the whole process go smoother.
If a smooth home selling experience is your main priority, you should consider hiring contractors to do the work for you. While this may cost more and therefore limit how much you make from the added return value, it can take the hassle off of doing it yourself. Whether you do it yourself or someone else does, be sure to keep your home cool: a study by Cornell University found that productivity levels are best at a temperature of 71.6 degrees. Keeping the temperature of the house at this temperature will be helpful toward making the process go smoothly.
Time To Sell
Once it comes time to sell, you’re going to want to ask for more than what you’re willing to accept. Give people the chance to negotiate, but also the opportunity to pay more than what you were hoping. You never know when a particularly eager homebuyer will pay a little extra to make it to the top of the pack. Even after making renovations and increasing the price of the home, it’s a good idea to ask for a little more than what you’re expecting.
Additionally, make sure you’re working with a realtor when you go to sell. Having someone who knows and understands the market near you will work to your benefit. Should you do these things, you’ll likely have more success when selling your home.